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DELL TECHNOLOGIES INC. |
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Reconciliation of Selected Non-GAAP Financial Measures |
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(in millions, except percentages; unaudited) |
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Three Months Ended |
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May 5, 2017 |
April 29, 2016 |
Change |
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Net revenue |
$ 17,816 |
$ 12,241 |
46 % |
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Non-GAAP adjustments: |
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Impact of purchase accounting |
355 |
78 |
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Non-GAAP net revenue |
$ 18,171 |
$ 12,319 |
48 % |
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Gross margin |
$ 4,302 |
$ 2,193 |
96 % |
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Non-GAAP adjustments: |
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Impact of purchase accounting |
365 |
89 |
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Amortization of intangibles |
950 |
101 |
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Transaction-related expenses |
7 |
(1) |
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Other corporate expenses |
22 |
3 |
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Non-GAAP gross margin |
$ 5,646 |
$ 2,385 |
137 % |
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Operating expenses |
$ 5,802 |
$ 2,332 |
149 % |
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Non-GAAP adjustments: |
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Impact of purchase accounting |
(58) |
(17) |
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Amortization of intangibles |
(826) |
(390) |
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Transaction-related expenses |
(184) |
(58) |
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Other corporate expenses |
(285) |
(21) |
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Non-GAAP operating expenses |
$ 4,449 |
$ 1,846 |
141 % |
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Operating loss |
$ (1,500) |
$ (139) |
(979)% |
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Non-GAAP adjustments: |
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Impact of purchase accounting |
423 |
106 |
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Amortization of intangibles |
1,776 |
491 |
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Transaction-related expenses |
191 |
57 |
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Other corporate expenses |
307 |
24 |
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Non-GAAP operating income |
$ 1,197 |
$ 539 |
122 % |
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Net loss from continuing operations |
$ (1,383) |
$ (424) |
(226)% |
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Non-GAAP adjustments: |
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Impact of purchase accounting |
423 |
106 |
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Amortization of intangibles |
1,776 |
491 |
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Transaction-related expenses |
191 |
57 |
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Other corporate expenses |
307 |
24 |
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Aggregate adjustment for income taxes |
(733) |
10 |
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Non-GAAP net income from continuing operations |
$ 581 |
$ 264 |
120 % |
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Net loss from continuing operations |
$ (1,383) |
$ (424) |
(226)% |
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Adjustments: |
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Interest and other, net |
573 |
219 |
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Income tax provision (benefit) |
(690) |
66 |
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Depreciation and amortization |
2,212 |
618 |
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EBITDA |
$ 712 |
$ 479 |
49 % |
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EBITDA |
$ 712 |
$ 479 |
49 % |
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Adjustments: |
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Stock-based compensation expense |
201 |
14 |
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Impact of purchase accounting |
357 |
83 |
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Transaction-related expenses |
191 |
57 |
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Other corporate expenses |
106 |
10 |
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Adjusted EBITDA |
$ 1,567 |
$ 643 |
144 % |
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